CHICAGO -- Detroit’s proposed $350 million debtor-in-possession financing, while rare in Chapter 9, is not the first such deal.

The honor goes to Orange County, Calif., which 18 years ago completed a pair of DIP financings that were key to lifting the county of its bankruptcy.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.